For the Consul General of the Consulate General of the Republic of Korea, Young Jong Hong, the relationship between the two countries is positive

On October 20, the director of Investe São Paulo, Sérgio Costa, participated in the series of presentations organized by the Korean Consulate General in São Paulo, in the state capital. The meeting, called “2016 Korea-Brazil Partnership in Promising Areas of Economic Cooperation,” brought together approximately 100 people to discuss ways of expanding the economic and trade relations between the two countries and sought to strengthen the professional relationship among the participants.The presentation of Investe São Paulo showed data and information to present the economic potential of the state to Asian entrepreneurs. Among the issues discussed were the strong consumer market in São Paulo and the highlights of the trade relations between South Korea and the state of São Paulo, which currently has the largest Korean community in Brazil.

“The Agency provides support to companies of all nationalities, helping them find sites and regions in São Paulo with the potential to welcome new investments, establish new bases and operations,” said Sérgio, assisted by simultaneous translation. “We are committed to ensure that companies have access to the business network and the skilled workforce that prove every day that São Paulo is the best state to invest.”

Sérgio said that the state of São Paulo accounts for 32% of the Gross Domestic Product (GDP) in Brazil, in addition to receiving 41% of all foreign direct investments coming into the country. Currently, the state leads the bilateral trade with South Korea, accounting alone for 35% of all trade between Brazil and the Asian country.

The car company, Hyundai Motor Company, was one of the South Korean companies who settled in the state, in Piracicaba. With the support from Investe São Paulo, the operation reached world record in the history of Hyundai, with the shorted period of establishment, from the selection of the area to the beginning of activities. “The Agency facilitated all stages of the investment. This is the service I want to offer you today, either for new investments or for the expansion of operations,” said Sérgio.

In addition to Investe São Paulo, the Brazilian Franchising Association (ABF) discussed the industry scenario in the country and presented companies such as “Morana”, “My Sandwich” and “Nutty Bavarian”, success stories in the Franchising scenario. The initiative sought to answer questions about the universe of franchises in Brazil, deemed by the Korean Consulate one of the most promising sectors of the domestic economy.

For the Consul General of the Consulate General of the Republic of Korea, Young Jong Hong, the relationship between the two countries is positive. “When there is synergic involvement, there is a promising future,” he concluded.